In January this year, new car registrations totaled 956,779 units in the European Union (EU), decreasing by 7.5 percent year on year due to major taxation changes, weakening economic conditions all over the world and uncertainty in consequence of Brexit, according to the latest figures issued by the European Automobile Manufacturers' Association (ACEA).
In January, demand for new cars fell across almost the entire European Union, including the EU’s four major markets. France posted the highest decrease, with a 13.4 percent drop. Meanwhile, demand for new cars declined by 7.6 percent in Spain, by 7.3 percent in Germany and 5.9 percent in Italy.